Double Top at Yearly R2

Last week the Dow Jones did a double top at the yearly R2 pivot. I'm looking for a pullback to 12k/200dma/Ms1.


update 8/1/2011: I'm now looking for a pullback to the yearly pp at 11050

Head and shoulders top

This weekly chart of the S&P 500 shows a head and shoulders top. This is a reversal pattern. Look for a big pullback on this right shoulder.